According to the Telegraph, the Filipino boxing superstar and Mayweather, who is undefeated in 47 fights, have finally come into terms to end five years of negotiation for a fight the world boxing fans eager to see.

“Manny has 100 percent signed his side of the deal. It is now over to Mayweather to close the deal and announce the fight,” a source close to Pacquiao told the Telegraph Sport.

Various reports said Mayweather is expected to officially announce the fight in the coming days, mostly likely on Feb. 15 during the NBA All-Star Game in New York.

It was Mayweather who announced that the fight will happen on May 2 at the MGM Grand Garden Arena in Las Vegas.

Both fighters reportedly agreed to 60-40 split of the revenue which is estimated to reach 250 million U.S. dollars. (PNA)

(Image credit: This image originally posted to Flickr.com, was uploaded by Akira Kouchiyama)